Tuesday, October 26, 2010

VW plans to become the world's largest auto maker by 2018

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Volkswagen’s plan to sell 10 million cars per year by 2018, becoming the world's largest car maker in the process, has been brought forward by three years, a source has revealed.

The source, citing secret company documents, told Manager Magazine that VW is now targeting more than eight million sales by 2012 and 10 million sales by 2015. This will mean that VW will pass Toyota as the world's largest car maker.

VW's official goal is to increase annual sales to 10 million by 2018 although, when questioned about the report, a VW spokesman said: “We're keeping to our 2018 target but do not rule out that the goal can be achieved earlier".

To meet growing demand, two factories will be added in its biggest market, China, plans to double production to three million cars in four years. Another factory is planned in Tennessee to supply the US market and VW is also expanding capacity in Russia.

VW hopes for a second consecutive year of record global sales after selling 6.29 million vehicles in 2009.

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